Ned and Nora purchased a house for $72,500. They had to make a down
payment of 15%. How much was the amount of the mortgage they
obtained?
a. $10,875
b. $72,500
c. $79,750
d. $61,625
The down payment was 15% of $72,500, which is:
$72,500 x 0.15 = $10,875
The amount of the mortgage would be the remaining amount after the down payment:
$72,500 - $10,875 = $61,625
Therefore, the answer is d. $61,625.